Bond Market Update

Long End Behind

• U.S. Treasuries trade on their lows after widening their initial losses. The early action unfolded inside a narrow range with the 2-yr note hanging onto its early advance while longer tenors made a brief run at fresh session highs before sliding back to lows in recent trade. The lower start puts the 30-yr yield on track for its highest settlement in more than four weeks. Equities holds slim early gains with the S&P 500 adding 0.1%.
• Yield Check:
  • 2-yr: -3 bps to 3.65%
  • 3-yr: +1 bp to 3.63%
  • 5-yr: +1 bp to 3.75%
  • 10-yr: +3 bps to 4.29%
  • 30-yr: +5 bps to 4.96%